Definitely not worth the price.
I got this on sale for $150, but even then I'm disappointed. The rings are just a few plastic semi-circles held together with rubber tubing. The two halves pinch together at the top where it connects to the cage, but the connection isn't tight enough and a little bit of skin often gets stuck between them. Trying to put it all together is a nightmare as well. Because the ring is only held together by rubber, the two sides get misaligned so easily, and trying to hold it just right while you connect the cage and the ring is impossible. Once you finally get it all together, the lock that comes with it is the stereotypical cheapest lock available - the kind you'd find on a pink notebook in a two dollar shop. Finally, there's at least twice as much space between the ring and the cage as there needs to be. This means the whole device is a good centimeter or two longer than advertised, and it's much easier to slip out.
The whole thing looks very cheaply made, and I can't help but feel ripped off. Get any other cage before you bother with this one.